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Suppose that the world price of a smartphone is $1,000 each. Now suppose that the United States, a large country, imposes a 10% tariff on
Suppose that the world price of a smartphone is $1,000 each. Now suppose that the United States, a
large country, imposes a 10% tariff on imported smartphones. What is the U.S. domestic price of
smartphones after the 10% tariff is imposed?
A. Less than $900
B. Between $900 and $1000
C. Between $1000 and $1100
D. Higher than $1100
E. There is not enough information to answer the question.
dont Answer by pen paper
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